Macklowe borrowed $5.8 billion from Deutsche Bank to acquire the buildings last year and the debt is scheduled to come due on Feb. 9. Under the agreement, according to reports, he would get an extension of the loan but Deutsche Bank would control the properties so they could be marketed and sold; however, Macklowe would still retain title.
The seven properties Macklowe may relinquish include the 610,000-sf Park Avenue Tower at 65 E. 55th St., the 1.8-million-sf 1301 Avenue of the Americas, the 1.6-million-sf Worldwide Plaza at 825 Eighth Ave., the 225,000-sf 527 Madison Ave., the 950,000-sf 1540 Broadway, the 562,567-sf 850 Third Ave. and the 200,000-sf Tower 56 at 126 E. 56th St. On Jan. 16, GlobeSt.com reported that Macklowe Properties hired CB Richard Ellis Group Inc. to sell his trophy General Motors building at 767 Fifth Ave, which sources said could fetch roughly $3.3 billion to $3.8 billion in today's market. Macklowe Properties purchased the building for $1.4 billion from Conseco Inc. in 2003.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
